Business, Legal & Accounting Glossary
The practice of obtaining something, especially money, through force or threats.
n. obtaining money or property by threat to a victim’s property or loved ones, intimidation, or false claim of a right (such as pretending to be an IRS agent). It is a felony in all states, except that a direct threat to harm the victim is usually treated as the crime of robbery. Blackmail is a form of extortion in which the threat is to expose embarrassing, damaging information to family, friends or the public.
The extortion by dishonest officials of fees for performing their sworn duty.
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This glossary post was last updated: 28th April, 2020 | 2 Views.